Is anyone running a 4.7L???
I had a '04 grand cherokee with a 4.7 for a couple of years. It ran well for me and I had no problems with it...the gas mileage was comparable to the 4.0 HO cherokee I had before that.
My dad bought it off of me and they've had it for 4 or 5 years now. As far as I know, the only thing that went wrong with it was the TPS sensor and that's it. It has well over 100k on it and still runs strong.